Location: Thomas County, KS | Metro: Rawlins County, KS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 67734 reveals a challenging investment landscape due to limited data availability. The Federal Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $920 per month. To annualize this figure, we multiply it by 12, resulting in an annual FMR of $11,040.
The median home value in ZIP 67734 is not available, which complicates the calculation of a precise cap rate. However, we can still provide a rough comparison using the FMR and the unknown market rent. For the purposes of this analysis, let's assume a median home value based on typical market conditions for similar areas, though this is speculative without specific data.
If we were to estimate a median home value for ZIP 67734, we would need additional information such as comparable sales data or average home values from nearby ZIP codes. Given the lack of this data, we cannot provide an accurate implied gross yield for the scenario involving the median home value.
The 4.9% renter density suggests that a significant portion of the population in ZIP 67734 owns rather than rents their homes. This could impact the demand for rental properties, including those participating in the Section 8 program. With the days on market (DOM) also unspecified, it's difficult to gauge the velocity of property transactions and how quickly a rental unit might be filled under normal market conditions.
In the absence of market rent data, the FMR provides a baseline for potential rental income. Using the FMR of $11,040 annually, the implied gross yield for a property in ZIP 67734 would be calculated by dividing this annual rent by the estimated property value. For example, if the median home value were hypothetically $200,000, the gross yield would be 5.52%. If the median home value were $250,000, the gross yield would drop to 4.42%.
Given the 4.9% renter density, the FMR-based scenario is more realistic for understanding the potential returns of a Section 8 property in ZIP 67734. Investors should consider the lower renter density and potentially longer vacancy periods when evaluating the feasibility of such investments. The actual gross yield will depend on the specific property value, which is currently unavailable.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.